Wednesday, June 4, 2014

Trade Deficit Rose to $47.2 Billion in April

The U.S. trade deficit grew by 7% in April to $47.2 billion, due to both decreased exports and increased imports. April’s report revised up February and March’s headline numbers. This is the fourth consecutive month the deficit has grown.

The report was mixed. Exports dropped 0.2% in April, to $193.3 billion. Imports rose 1.2% to $240.6 billion. Imports are at new high, driven by the new high of goods imports. U.S. consumers are increasing their consumption, a strong signal for an improving economy.

The real goods deficit, which is important for the calculation of GDP, grew to $53.8 billion. This negatively impacts GDP. The petroleum deficit shrank.

Read the Census report.

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